[masood_y]

I dont know what is IOWAIT, here is my curren mysql configuration.
Can you please check it?

[mysqld]
datadir=/var/lib/mysql
socket=/var/lib/mysql/mysql.sock
skip-locking
skip-networking
safe-show-database
query_cache_limit=1M
query_cache_size=256M
query_cache_type=1
max_user_connections=200
max_connections=500
interactive_timeout=10
wait_timeout=20
connect_timeout=20
thread_cache_size=128
key_buffer=256M
join_buffer=1M
max_connect_errors=20
max_allowed_packet=16M
table_cache=1024
record_buffer=1M
sort_buffer_size=4M
read_buffer_size=4M
read_rnd_buffer_size=4M
thread_concurrency=4
myisam_sort_buffer_size=64M
server-id=1
log_slow_queries=/var/log/mysql-slow-queries.log
long_query_time=2
collation-server=latin1_general_ci

[safe_mysqld]
err-log=/var/log/mysqld.log
pid-file=/var/lib/mysql/mysql.pid
open_files_limit=8192

[mysqldump]
quick
max_allowed_packet=16M

[mysql]
no-auto-rehash
#safe-updates

[isamchk]
key_buffer=32M
sort_buffer=32M
read_buffer=16M
write_buffer=16M

[myisamchk]
key_buffer=32M
sort_buffer=32M
read_buffer=16M
write_buffer=16M

[mysqlhotcopy]
interactive-timeout